Word: anglo-iranian
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...companies have formed a combine to market Iran's oil, in expectation of an early solution to the country's oil troubles. Stock in the group is held 40% by Anglo-Iranian Oil Co., 40% by five U.S. firms operating in the Middle East-Standard Oil (N.J.), Gulf Oil, the Texas Co., Standard Oil of California, Socony-Vacuum Oil-and 20% by French and Royal Dutch Shell...
...Negotiate an agreement with London compensating the expropriated Anglo-Iranian Oil Co. Probable cost: $300 million...
IRAN is moving closer to settlement of its oil problem. Famed Oilman Torkild ("Cap") Richer (TIME, April 20) has been hired as Iran's official adviser on oil matters and is expected to work out a deal between Iran and Anglo-Iranian Oil Co. that will permit a combine of oil companies to market Iran...
...Sicily, half a dozen other companies are also active. Britain's Anglo-Iranian Oil Co. has already spent $500,000 on a test hole near Ragusa. Mediterranean Oil (Gulf and MacMillan Petroleum Corp.), Pacific Western Oil Corp., Montecatini and others have all bought extensive leases (now upped to a 16% royalty) from the government and are searching for oil. So far, 2,400,000 acres have been leased, almost 40% of Sicily's land, and Sicilians are waiting for the first gushers...
Teheran's new government last week gave its people the first inkling of how much Mohammed Mossadegh's "victory" over the Anglo-Iranian Oil Co. had cost the country...